"July, 2011" Archive - Page 10

Exim Bank's Line of Credit of USD 20 million to the Government of the Kingdom of Swaziland -A.P. (DIR Series) Circular No. 05

RBI/2011-12/124 A.P. (DIR Series) Circular No. 05 (26/07/2011)

A.P. (DIR Series) Circular No. 05 Export-Import Bank of India (Exim Bank) has concluded an Agreement dated March 30, 2011 with the Government of the Kingdom of Swaziland making available to the latter, two Lines of Credit (LOCs), each for an amount of USD 10 million aggregating to USD 20 million (USD twenty million) for financing eligible...

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Liquidity Adjustment Facility – Repo and Reverse Repo and Marginal Standing Facility Rates – Circular No. FMD.MOAG. No.61/01.01.01/2011-12

RBI/2011-2012/126 FMD.MOAG. No.61/01.01.01/2011-12 (26/07/2011)

As announced in the First Quarter Review of Monetary Policy 2011-12, it has been decided to increase the repo rate under the Liquidity Adjustment Facility (LAF) by 50 basis points from 7.50 per cent to 8.00 per cent with immediate effect. Consequent to the above increase in the repo rate, the reverse repo rate under the LAF will stand au...

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Regarding anti dumping duty on Poly Vinyl Chloride Paste Resin, originating in, or exported from, People’s Republic of China, Japan, Republic of Korea, Malaysia, Russia, Taiwan and Thailand – Notification No.66 /2011-Customs

Notification No.66 /2011-Customs (26/07/2011)

Notification No.66 /2011-Customs Whereas in the matter of imports of Poly Vinyl Chloride Paste Resin (hereinafter referred to as the subject goods), falling under sub- heading 3904 22 10 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred as the said Customs Tariff Act), originating in, or exported fro...

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Standing Liquidity Facilities for Banks and Primary Dealers – Circular No. REF.No.MPD.BC. 347/05.02.001/2011-12

RBI/2011-12/127 REF.No.MPD.BC. 347/05.02.001/2011-12 (26/07/2011)

Please refer to the First Quarter Review of Monetary Policy 2011-12 of July 26, 2011, in terms of which the repo rate under the Liquidity Adjustment Facility (LAF) has been increased by 50 basis points from 7.5 per cent to 8.0 per cent with immediate effect. Accordingly, the Standing Liquidity Facilities provided to banks (export credit r...

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Utilising Certified Facilitation Centers (CFCs) Service for XBRL Filing Of Financial Statements From 2010-11 Onwards

The Institute is pleased to inform you that Ministry of Corporate Affairs decided to utilize the services of Certified Filing Centers (CFC) for enabling companies to file their financial statement in XBRL from FY 2010-11 onwards. CFC would also be required to assist companies in XBRL filing of the financial statements as well as provide t...

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Posted Under: Fema / RBI |

First Quarter Review of Monetary Policy 2011-12

The Reserve Bank’s Annual Policy Statement of May 3, 2011 highlighted several risk factors to the growth-inflation outlook. Many of these risks have materialised. On the global front, the sovereign debt problems that have beset the euro area over the past year now threaten larger economies in the region. In the US, concerns over a sover...

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Posted Under: Fema / RBI |

Scrutiny inspection and investigation in all winding up cases

General Circular No. 55/2011 (26/07/2011)

It has been noticed that winding up petitions are being filed by management after having committed major violations under the Companies Act, 1956 as well as misappropriation of funds of the company. Winding up of such companies are also being filed by creditors. In order to curb such malpractices following procedure may be foll...

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Pro-active action in case of winding up petitions – GENERAL CIRCULAR NO. 54/2011

General Circular No. 54/2011 (26/07/2011)

It has been noticed that winding up petitions are filed by creditors, stake holders and management before Hon’ble High courts without providing full information. This leads to waste of valuable time of Hon’ble Court and also delays completion of winding up process as well. In order to speed up the windi...

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Guidelines for RDs/ROCs in the matter of scheme of arrangement / amalgamation under section 391-394

General Circular No. 53/2011 (26/07/2011)

Whether a listed company is merging with an unlisted company ? In such a case he should ensure that share of unlisted company also gets listed....

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Custom – Cess not payable on on export of Lac/shellac

Circular No. 32/2011-Custom Duty (26/07/2011)

Circular No. 32 /2011-Customs Representations have been received from Trade and Industry stating that they are being required to pay Cess on Lac/Shellac at the time of export of such goods. The matter has been examined. Exports of Lac/shellac were subject to Cess under ‘The Produce Cess Act, 1966’. However, vide Produce Cess Laws (A...

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